Robeco Multi Asset Sustainable D EUR
- Fully sustainable multi-asset solution with a neutral risk profile
- Combination of fundamental, thematic and factor sustainable investments
- Active asset allocation to enhance both risk and return
About this fund
Price development
Performance
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Annualized (for periods longer than one year).
Cumulized (total amount of return).
Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.
Performances are net of fees and based on transaction prices.
| Fund | Reference index | |
|---|---|---|
Annualized (for periods longer than one year).
Cumulized (total amount of return).
Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.
Performances are net of fees and based on transaction prices.
Performance explanation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Based on transaction prices, the fund's return was 6.23%. In July, Multi Asset Sustainable delivered a return of more than 6%. The portfolio benefited from the more constructive sentiment in markets. This change in sentiment was caused by markets starting to anticipate a Fed pivot, as the Fed seems to have become more sensitive to the weakness in growth. The expectation of a less hawkish Fed in combination with decent Q2 earnings was supportive for almost all major asset classes. The tactical allocation decisions added to performance. Our higher exposure to high yield, US government bonds and developed market equities all delivered. Towards month-end, we took advantage of the rise of equity markets to lower our exposure to equities somewhat. Fund selection detracted from the overall performance, mainly due to the value-oriented strategies. Three of the six equity allocations that target investments that contribute positively to achieving the UN SDGs performed better than the general market. The best-performing strategy in the portfolio was RobecoSAM Smart Energy.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}A very strong reversal in equity momentum took hold in late June. Markets rallied, led by growth stocks on the back of declines in US 10-year yields. The decline in the 10-years was mainly driven by lower hiking expectations. These declines reflected an emerging consensus that inflationary pressures will soon start to fade as growth continues to decelerate. Thus, in a sense bad news was good news for markets again. The MSCI World (unhedged in euro) gained 10.7% in July. There was significant spread compression in US high yield as well, with the global high yield index gaining 4.4% (hedged in euro). Although the Q2 earnings season has so far seen lower beats than in the last earnings seasons, overall earnings are still well into double digits and further supported the market reversal. Commodities lagged, with oil prices dropping -3.9% in dollars. This could point to demand finally reacting to high prices. Nominal global sovereign bonds generated 2.1% hedged in euro, as yields moved lower across the board.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Dividend policy
This share class of the fund does not distribute dividend.
ESG Integration policy
The fund invests a minimum of 80% in Robeco managed or externally managed funds which are classified as Article 8 or 9 under SFDR. For direct line investments with government and/or corporate exposure (credit or equity), the fund incorporates sustainability in its investment process as follows. For government bonds, the fund complies with Robeco's exclusion policy for countries. In addition, the fund excludes the 15% worst ranked countries following the World Governance Indicator 'Control of Corruption' and integrates ESG factors of countries to ensure that the fund's investments have a minimum average score of 6 following Robeco's proprietary Country Sustainability Ranking. The Country Sustainability Ranking scores countries on a scale from 1 (worst) to 10 (best) based on 40 environmental, social, and governance indicators. For corporate investments, the fund does not make investments in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up security analysis to assess the existing and potential ESG risks and opportunities of an issuer. The fund limits exposure to issuers with elevated sustainability risks in the portfolio construction. Lastly, where issuers are flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement.
Investment policy
Robeco Multi Asset Sustainable is an actively managed global multi asset fund. The fund's objective is to achieve a better return than the index. The fund promotes E&S (i.e. Environmental and Social) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation (SFDR), integrates sustainability risks in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions. The fund invests in Robeco managed or externally managed funds classified as Article 8 or 9 under SFDR. The asset allocation strategy is subject to the investment restrictions and a limit on ex-ante volatility. The majority of investment instruments selected through this approach will be components of the Benchmark but investment instruments outside the Benchmark index may be selected too. The fund can deviate substantially from the weightings of the Benchmark. The investment policy is not constrained by a benchmark but the fund may use a benchmark for comparison purposes. The fund can take a substantial active risk. The fund can deviate substantially from the issuer, country and sector weightings of the Benchmark. There are no restrictions on the deviation from the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.
Risk policy
Risk management is fully embedded in the investment process to ensure that the fund's positions remain within set limits at all times.
Sustainability profile
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}
| ESG score target | Footprint target |
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| Better than index | Better than index |
Sustainability
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The fund invests a minimum of 80% in Robeco managed or externally managed funds which are classified as Article 8 or 9 under SFDR. For direct line investments with government and/or corporate exposure (credit or equity), the fund incorporates sustainability in its investment process as follows. For government bonds, the fund complies with Robeco's exclusion policy for countries. In addition, the fund excludes the 15% worst ranked countries following the World Governance Indicator 'Control of Corruption' and integrates ESG factors of countries to ensure that the fund's investments have a minimum average score of 6 following Robeco's proprietary Country Sustainability Ranking. The Country Sustainability Ranking scores countries on a scale from 1 (worst) to 10 (best) based on 40 environmental, social, and governance indicators. For corporate investments, the fund does not make investments in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up security analysis to assess the existing and potential ESG risks and opportunities of an issuer. The fund limits exposure to issuers with elevated sustainability risks in the portfolio construction. Lastly, where issuers are flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement.
Ernesto Sanichar, Mathieu Van Roon
Ernesto Sanichar is Portfolio Manager with a focus on pension fund mandates. His asset specialties are fixed income and FX. He has been part of Robeco's Investment Solutions department since 2005. Previously, he was Treasury Manager for four years. Prior to joining Robeco in 2001, Ernesto worked at ING Barings as a Product controller at the cash equities and derivatives desk for three years. Ernesto started his career in the investment industry in 1998. He holds a Master's in Financial Economics from Erasmus University Rotterdam. Mathieu van Roon is Portfolio Manager within the Fundamental Multi-Asset team and is responsible for the Robeco Multi Asset funds, Robeco ONE and Defined contribution funds. He joined Robeco in 2011 within the Structured Investments department. Mathieu holds a Master’s in both Business Economics and Econometrics (cum Laude) from Erasmus University Rotterdam and is a Financial Risk Manager (FRM) charterholder.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU1821198576 |
| Bloomberg | ROMASDE LX |
| Valoren | 41769890 |
| WKN | A2PQDX |
| Availability | |
| 1st quotation date | 1528243200000 |
| Close financial year | 31-12 |
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Cost of this fund
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Transaction costs |
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Extra fees
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Fiscal product treatment
The fund is established in Luxembourg and is subject to the Luxembourg tax laws and regulations. The fund is not liable to pay any corporation, income, dividend or capital gains tax in Luxembourg. The fund is subject to an annual subscription tax ('tax d'abonnement') in Luxembourg, which amounts to 0.05% of the net asset value of the fund. This tax is included in the net asset value of the fund. The fund can in principle use the Luxembourg treaty network to partially recover any withholding tax on its income.
Fiscal treatment of investor
The fiscal consequences of investing in this fund depend on the investor's personal situation. For private investors in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Each year investors pay income tax on the value of their net assets as at 1 January if and inasmuch as such net assets exceed the investor’s tax-free allowance. Any amount invested in the fund forms part of the investor's net assets. Private investors who are resident outside the Netherlands will not be taxed in the Netherlands on their investments in the fund. However, such investors may be taxed in their country of residence on any income from an investment in this fund based on the applicable national fiscal laws. Other fiscal rules apply to legal entities or professional investors. We advise investors to consult their financial or tax adviser about the tax consequences of an investment in this fund in their specific circumstances before deciding to invest in the fund.
